When it comes to purchasing a home, you need to be prepared for a large expense. Between the down payment, closing costs, and inspection fees, you are likely to feel a little flustered when it comes to money. While many times certain fees can be knocked down a bit or eliminated, a down payment is required.
Down payments are generally anywhere between three and 20 percent of the total cost of the house. For many potential homebuyers, the cost of the down payment is too high to purchase a house they will be comfortable in for years to come. But now, with the help of First Fidelis’ Advantage Program, homebuyers are able to get help with a down payment to purchase the home they have been looking for.
First Fidelis in Kansas City is proud to offer the Advantage Program to homebuyers in the metro area who need some help with their down payments by allowing borrowers to put down only one and a half percent with their FHA loans. In fact, First Fidelis is the only lending company in both Kansas and Missouri that offers this unique program where borrowers get a break on their down payments!
Advantage Program Summary
So, just what does the First Fidelis Advantage Program offer to homebuyers. First, you can get a grant through the program that is equal to the value of two percent of the purchase price of the home. This grant can help you reach your down payment amount with ease, and you’ll only have to put down one and a half percent down yourself. This is the only deal of its kind in Kansas and Missouri!
The Advantage Program also doesn’t have any resale or borrower payment restrictions, and it can be combined with up to six percent seller concession for closing costs.
Quick Look at the Advantage Program from First Fidelis
- Buyers put only 1.5% down on a house with an FHA loan
- Lender puts down 2% of the down payment to cover the total 3.5% required down payment
- Sub-600 credit scores accepted
- The only program of its kind in both Kansas and Missouri!
- No repayment or borrower payment restrictions
- Eligible for combination with up to 6% seller concession for closing fees
Qualifying for the Advantage Program
To qualify for First Fidelis’ Advantage Program, borrowers need to meet at least one of the following criteria:
- Be a first-time homebuyer
- Have an income that is equal to or less than 140 percent of the median area income
- Be a current, retired, volunteer, or non-paid educator, first responder, civil servant, military personnel, or medical personnel.
- Have a FICO score of 580 or higher
If you meet any of the above criteria, contact First Fidelis to discuss getting help with your down payment using First Fidelis’ Advantage Program. This simple program can help all types of borrowers finance their next home a little bit easier with the help of a down payment grant, and you won’t find an offer like this anywhere else!
First Fidelis, a mortgage broker in Kansas City, can help homebuyers with the purchase of their new homes in a number of different ways. If you are preparing to purchase a new home, first call First Fidelis today at 913-205-9978. A representative can speak with you about getting a home loan, the Advantage program, and much more.